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Secure I https://newconnect mheducation.com/flow/connect.html uld Selected activity of the Ray Shipping Service follow. TRANSACTIONS 1 Gave a cash refund of $750 to a customer because of a lost package. (The customer had previously paid in 2 Sent a check for $1,050 to the utility company to pay the monthly bill. 3. Provided services for $7,800 on credit 4. Purchased new equipment for $4,600 and paid for it immediately by check 5. Issued a check for $3,500 to pay a creditor on account. 6. Performed services for $15,250 in cash. 7. Collected $6,250 from credit customers 8. The owner made an additional investment of $25,000 in cash. 9. Purchased supplies for $3,250 on credit. 10. Issued a check for $3,750 to pay the monthly rent Analyze the above transactions and record a journal entry for each transaction Journal entry worksheet 5 68 9 10>

Solution

1. Cash a/c dr 750

To loss on package . 750

2. Bank a/c. Dr 1050

To utility expense. 1050

3. Debtor . a/c . Dr 7800

To service revenue. 7800

4. Equipment a/c dr 4600

To bank a/c . 4600

5. Creditor a/c. Dr. 3500

To bank a/c. 3500

6. Cash. A/c . Dr 15250

To service revenue . 15250

7. Cash a/c. Dr 6250

To debtors. 6250

8. Cash a/c dr 25000

To capital a/c. 25000

9. Supplies a/c dr . 3250

To creditor . 3250

10. Rent A/c . Dr. 3750

To bank a/c. 3750